Selling for a low price is always a concern when listing a bike for sale. There are tips, however, that can help with determining the value of a bike and how much to list it for when selling it. Here is a breakdown of the most critical aspects to prioritize.
Make and Model
The make and model of the motorcycle will often determine how much to price it at. Knowing the make and model of the bike allows the seller to use various online resources, including NADA and KBB, more effectively. These sites are accessible to anyone looking forward to valuing a pre-owned motorcycle.
After identifying the make and model of the ride, compare different elements in the resources above. First, check the MSRP, the manufacturer’s standard price for the motorcycle. This value allows an individual to determine the current price, often based on the depreciation rate. Any seller should rely on the MSRP as the baseline cost when determining the value.
It’s importat to calculate the depreciation value against the MSRP. This is the best way to get the actual value of a ride. Motorcycles do depreciate as soon as they leave the lot. From there, they generally lose around 20% the first year and around 5% each year after that.
Further, brands often determine how much to pay for the motorcycle. High-end brands usually cost a lot when they’re new and they tend to hold their value better than other types of bikes. Researching the depreciation percent based on the brand may be necessary for ones that tend to hold their value better in the long run.
Mileage and Age
Besides the make and model of the ride, consider its mileage. With age comes multiple complications, including worn-out parts and malfunctioning elements. In addition, age will likely contribute to high mileage. A motorcycle that has travelled long distances is considered worn out, contributing to a lower value. Such extended distances often expose the ride to multiple issues, including engine complications.
No one-dimension method can gauge how much depreciation comes from every mileage traveled. However, extended distances attract lower values, so it’s necessary to adjust the depreciation accordingly. For vehicles with higher mileage, the sale price is going to be lower. If a bike was only used locally or occasionally and still has a low amount of miles, it’s going to be worth a lot more to a potential buyer.
Sales Process
The sales process is determined based on personal goals or preferences. Consider selling to a resaler or through a company, as this will provide more interest in the bike and get it seen by more people. The price could be negotiable or firm, depending on personal preferences. While firmness indicates confidence, room for negotiation could help the seller get a good deal.
At the same time, point out whether it’s possible to host a safe test drive. Highlight all the rules relating to the test drive, including riding experience and licensing. It will help avoid unfortunate incidences and legal concerns.
Determining the value of a ride should not be a headache. With the tips above, it should be easier to determine the value of the bike and make sure it’s listed at an appropriate price. This can make selling the bike easier and can help the seller get more money.
